Enbridge Inc. (NYSE:ENB) Sees Large Increase in Short Interest

Enbridge Inc. (NYSE:ENB) (TSE:ENB) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 30,700,000 shares, an increase of 49.8% from the March 15th total of 20,490,000 shares. Currently, 1.4% of the shares of the stock are sold short. Based on an average trading volume of 4,170,000 shares, the short-interest ratio is presently 7.4 days.

Analysts Set New Price Targets

Several research firms have recently weighed in on ENB. TD Securities assumed coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. CIBC restated an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Royal Bank of Canada upped their price target on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Finally, Citigroup assumed coverage on Enbridge in a research note on Friday, April 4th. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Enbridge has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

Hedge Funds Weigh In On Enbridge

Large investors have recently made changes to their positions in the business. McIlrath & Eck LLC lifted its position in Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after buying an additional 295 shares in the last quarter. Albion Financial Group UT purchased a new stake in shares of Enbridge during the fourth quarter worth $29,000. Wintrust Investments LLC boosted its position in Enbridge by 47.8% during the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 238 shares during the last quarter. GeoWealth Management LLC grew its stake in Enbridge by 436.4% in the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 611 shares in the last quarter. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Enbridge during the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Up 1.7 %

Shares of NYSE:ENB opened at $45.32 on Friday. Enbridge has a 52 week low of $34.60 and a 52 week high of $46.12. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The company has a market cap of $98.76 billion, a PE ratio of 26.35, a price-to-earnings-growth ratio of 3.92 and a beta of 0.80. The firm has a 50 day simple moving average of $43.15 and a 200 day simple moving average of $42.79.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. The company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter in the prior year, the company earned $0.64 earnings per share. As a group, research analysts expect that Enbridge will post 2.14 earnings per share for the current year.

Enbridge Company Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.